wallaceb

Need some opinions here....

A dealer (Toyota, not Lexus) just gave me a trade in quote of $11,000 for my vehicle.

I have a 2010 Lexus IS250 AWD with Nav, Frost Mica paint/tan interior, and in good shape. Car has 73000 miles and is very clean. Car has new tires, new brakes, and new plugs at 60k miles. All work done at a Lexus dealer too--car has never missed a 5k interval service.. There is a ding on the carfax, it was on there when I bought the car. I have never been able to see any evidence of body work on the car.

I paid around $24000 for it two years ago, and it's worth only 11,000 now?

Am I being ripped off a bit?

ezbmr

Sounds like you got ripped off two years ago. The dealer wants to make a few grand. They will sell it for 15-16, why not sell it yourself? Heck, just put it out for 14900 and it should sell fast.

wallaceb

Problem is I owe around 14 on it still... Was hoping to get around 14 on trade in. KBB has it around 15 in good condition.

Sportskid1

iTrader: (1)

You can get a trade in value directly through KBB. It will give you a quote that the dealers will have to honer. Just click the "Get an instant offer" button.

wallaceb

Unfortunately, KBB doesn't give me the option to include the bad carfax that my car has. KBB gives me an estimate of around $15,000. I was wondering if everyone thought a carfax ding would really knock my trade down by $4,000?

Icy350

iTrader: (18)

No offense to OP, KBB and Edmunds are not accurate/ dealers will laugh at your value.

an 06 goes for around 8~10k atm. BASE.
my 06 fully loaded was appraised around 13k.

Just to give you an idea.

Ask around or maybe ask your dealer to up your trade in.

PS: 2 years ago, the 3rd gen IS JUST came out. Meaning the 2nd gen still had some value.

Being that the 3rd gen has become a hot seller, the 2nd gen is quickly losing value. Just another thing to take into consideration.

Bichon

Icy350 is right, KBB in particular seem to give much higher values than what the dealer is willing to pay. Around here, the dealers all seem to use the Galves pricing guide.

MrKayP

This kind of sucks i purchase 2009 IS 250 and the value drop so significant i dont think ill ever purchase lexus again. Its ridiculous because i paid around 24k for it as well. Kind of upsetting to find out that they low ball your value

RXGS

iTrader: (2)

If you sold it on your own, you could easily get 14k

wallaceb

I agree, but I still owe around 14k on the loan.

evopat

Good luck that dealer is not very helpful

MWIS350

Try to sell it your self I think you can get about $15,000. Check out Nada.com for value.